2932 W Oxford St, Philadelphia, PA 19121

Property Description

Investment Opportunity! Legal triplex in the rapidly developing Brewerytown neighborhood. Completely renovated and legalized in 2023, this property offers an excellent opportunity for both investors and owner-occupants. The building consists of two spacious 3-bedroom, 1-bath apartments and one 2-bedroom, 1-bath apartment. The first and second floor units are vacant, providing immediate lease-up potential, while the third-floor unit is occupied on a month-to-month lease. Projected market rents are approximately $1,500/month for the first floor, $1,400/month for the second floor, and $1,300/month for the third floor, for a projected gross annual income of $50,400. Based on the seller's projected operating expenses, the property offers an estimated 9.03% stabilized cap rate. Property features include central air conditioning in all three units, separate gas and electric service for each apartment, a sprinkler system, fire alarm system, common laundry area, extra storage in the basement, and a 10-year Philadelphia tax abatement effective in 2025. Tenants pay their own gas and electric, along with a flat monthly water fee. Conveniently located near Fairmount Park, Temple University, Center City, major highways, and public transportation.